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The Entrepreneur’s Source Reviews Why You’re Never Too Old (or Too Young) to Join a Franchise

Today’s franchisees come in all shapes, sizes, ages, genders and ethnicities. However, now more than ever the franchise industry is turning from an old boy’s club to an industry in which individuals of every age are capitalizing on. People in their 20s, 30s, 40s, 50s, 60s and beyond are all entering the franchise sector.

In today’s franchise world, age is just a number and in reality, you’re never too old or too young to pursue your dream of leveraging a business to accomplish your Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals. Today, The Entrepreneur’s Source reviews the wide array of generations currently turning to franchising to become autonomous in their careers and capitalize on a booming industry.

Millennials in FranchisingRewind 10 years, and you probably wouldn’t have found a large amount of young adults in their early 20s and 30s in the franchise industry. However, this norm has forever changed since the 2008 recession hit and changed the job market for these workers.

Today, more than 50 percent of Millennials – or those born between 1980 and the mid-2000s – with a bachelor’s degree under the age of 25 are jobless or underemployed, reports The Associated Press. Millennials have been plagued with entering the job market at a time where it isn’t too welcoming for them. When the recession hit, many companies downsized and kept their most capable employees, not wanting to take on the more unskilled and less experienced Millennials. This has caused Millennials to become wary of working in corporate America due to decreasing job security and low employer loyalty – driving many of these individuals to turn to alternative career options like franchising.

“Millennials are a generation driven by risk and innovation,” The Entrepreneur’s Source®Terry Powell said. “With limited job opportunities and natural independent drive, the entrepreneurship and stability of franchising is an appealing career path for Millennials.”

Many individuals unfairly plaster this generation with negative characteristics, but in fact, many of these so-called “bad” Millennial characteristics are good for entrepreneurship. Millennials are commonly negatively accused of wanting to live luxuriously, being impatient and relying on technology. Whether these characteristics are true isn’t the point. All three of these qualities are commonly viewed as negative, but when applying them to entrepreneurship they can actually be translated into strengths.

Generation X in FranchisingGeneration X – or those born between 1960 and 1980 – are oftentimes dubbed as the “neglected middle child” generation, oftentimes being overshadowed by their older and younger “siblings” the Baby Boomers and Millennials, respectively. However, when it comes to franchising, they’re taken very seriously and are integrated into the sector.

The biggest factor driving individuals from Generation X to move to the franchise industry is their overwhelming pessimism about their ability to retire. According to the Pew Research Center, a near majority – 44 percent – of people in Generation X aren’t confident about their ability to retire. When the recession hit, many Generation X-ers found themselves as the victim of widespread company layoffs in corporate America, leaving them at a crossroads of where to turn for employment.

Similarly, many individuals in Generation X chose the route of franchise business ownership due to the increased control over employment and their future. These individuals are in the period of their lives where they’re raising their children and need to provide for their families and need to start planning for their future. Franchising offers many lifestyle benefits for these individuals, such as increased flexibility in their work schedule and a better work-life balance – two things Generation X-ers greatly desire. This added benefit of becoming a franchisee rather than continuing to work in corporate America is ideal for Generation X.

Baby Boomers in FranchisingSimilar to those individuals in Generation X, a large percentage of Baby Boomers aren’t confident in their ability to retire as they near retirement age. According to a recent Gallup poll, one in 10 Baby Boomers predicts that they will never retire and nearly 50 percent don’t expect to retire until they’re at least 66 years old. In fact, the average retirement age has steadily risen from the age of 57 to 61 over the past 20 years.

Not all of this is due to the stagnant and unpromising job market, especially for older individuals who corporate America commonly characterizes as being “old school.” Many Baby Boomers are willingly choosing to prolong their careers because they want to keep busy. A great option for an alternative second-act-career for Baby Boomers is entrepreneurship through franchising.

“A vast majority of today’s unemployed Baby Boomers are seasoned executives with severance packages who are now looking for new ways to invest in their future,” said The Entrepreneur’s Source ®Terry Powell. “The Baby Boomer generation [wants] a ‘second act’ career that offers independence as well as benefits and structure, which is often found in franchising.”

A successful career begins with one step. If you have contemplated entrepreneurship but aren’t sure how to take the first step, then Start a Business Weekend® is the event for you. Take just 30 minutes to discover opportunities and obtain information that will fuel you dreams of business ownership – all free of charge and you can attend from the comfort of your own home.

What is Start a Business Weekend®?

Start A Business Weekend® is designed for all types of potential business owners, no matter where they are at in their respective careers. Whether a seasoned business owner who is looking for a new opportunity or an aspiring entrepreneur just starting out, the entire event will benefit anyone interested in business ownership.

Start a Business Weekend® is powered by The Entrepreneur’s Source®. This event offers prospective or existing franchisees the ability to explore over 150 proven franchise opportunities, and network online with other professionals and business coaches. At SABW’s virtual career fair, you can visit over 150 interactive virtual booths, and watch hundreds of free videos all without leaving your house.

Start a Business Weekend®will also include:

Coaching sessions from The Entrepreneur’s Source alternative career coaches who are devoted to The Discovery Process, which aids future entrepreneurs in determining their Income, Lifestyle, Wealth and Equity (I.L.W.E) goals and which franchise opportunities could be the right fit for them.

A virtual briefcase in which attendees can add instructive collateral to as well as complimentary resources ranging from general franchise opportunity information to very detailed, exclusive business opportunities.

Even after the event ends, attendees will have access to visit their expo resources, including unique franchise opportunities, for 14 days after the live event ends.

The Entrepreneur’s Source Reviews 5 Steps to Break Free from Your Career Frustrations

Whether they’re big or small, we all suffer from career frustrations. However, you have to look at your options. Is there enough of an upside for you in your current career to tolerate staying with your job? Many people feel like they have no options and therefore have no choice. You can either ignore your frustrations and risk becoming a victim of Battered Career Syndrome, or you can proactively try and work through your frustrations. For most people, the latter of the two options is the better solution to the problem, but working through your career frustrations isn’t always easy. Today, The Entrepreneur’s Source reviews five simple steps to help those suffering from Battered Career Syndrome break free from their career frustrations.

1. Determine the root of the problemMany individuals working in corporate America find themselves frustrated with their careers but never take the time to pinpoint just what is making them tick. Because of this, the first step on your journey of discovery is to take some time to get to the root of your frustration.

Do you feel as if you’re being overworked?

Do you travel too much?

Do you feel underappreciated by your boss?

Are you disengaged from your work?

Do you feel like you are working really hard and others get to capitalize on your efforts?

Establishing just what is making you unhappy at work is the only way you can work toward finding a solution to overcoming your frustration and thrive.

2. Identify the change that needs to be madeNow that you’re establishing just what the issue you’re having is, you can begin to identify how your feelings could change. For example, if you feel as if you’re disengaged from your work, then it’s time to brainstorm why that is.

Have your goals and priorities changed?

Has the job or management or the industry changed?

Is there hope for you to become reengaged?

Would speaking to your manager and vocalizing your frustrations help?

The only thing you have to lose at this point your happiness, your continued success and longevity at the organization depends on it. While brainstorming, maybe you’ll come up with a resolution or perhaps the conclusion will be that your current job has no more potential to satisfy your career and goals. Finding the solution to what can solve your frustrations will help you in determining your next steps.

3. Let your voice be heardYou most likely won’t benefit from keeping your career frustrations to yourself. Sometimes other people hold the power in whether or not you can ultimately make the change that’s needed to become satisfied in the workplace. Once you’ve identified the change you’d like to be seen made, go to your higher-up and bring up your frustration and your proposed change. Whether or not they get on board with the proposition is in their hands, but you’ll probably regret not asking and risking forever lamenting in your frustrations.

4. Make a changeOnce your concerns and proposed changes have been heard, it’s time to come up with a plan of action. If your manager is on board with your suggested changes, you may be able to create a plan of action to set you up on the path to make the change.

In an ideal world, all of our bosses would agree with our concerns and proposed plans of action to reach career happiness. However, you do face the risk of having your higher-up not wanting to accept your proposition. If this is the case, then there are two routes you can take. You can either stay in your current position and continue to suffer from career frustrations, or can make a change to find an alternative career. And keep in mind, change is not always easy, but often well worth it. Giving up on a desired result in the short term is almost always easier than exploring options outside your current comfort zone that will ultimately give you what you say you want.

5. Seek outside helpOftentimes, seeking out professional alternative career coaches to assist you in overcoming your career frustrations and finding an alternative path to success is a wonderful resource for those suffering from Battered Career Syndrome. Collaborating with a career coach can help you identify your frustrations to better determine what you’d like your future to look like.

Alternative career coaches at The Entrepreneur’s Source are trained in helping their clients identify their Goals, Needs and Expectations alongside their Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals so they can better envision what their ideal future would look like. A coach can be your best supporter, when doubt starts to creep in, they will help you put things in perspective and you’ll be empowered and gain confidence about your abilities and possibilities.

The Entrepreneur’s Source Reviews: Work-Life Balance and Why You do Not Need to Tradeoff

In today’s career economy, 76 percent of Americans are living paycheck to paycheck, according to CNN Money. These over-exhausted corporate employees hardly have any time or money to do anything other than keep their families afloat. Because of the competitiveness of the job market, people are taking jobs with lower salaries and yet are putting in more time, energy and effort.

The Problem with Trade OffsEmployees working in corporate America are forced to make many trade-offs to keep their jobs in this competitive job market. Some employees spend hours a day commuting to and from work to earn a steady paycheck. Some decide to relocate with their companies to keep up with the rat race. Others are pressured to work overtime without being paid extra to get all of their work completed instead of telling their higher up that they have too much on their plate. In fact, Americans work more hours than any other industrialized country in the world.

Most workers make these sacrifices to better provide for their families, when in reality, they are missing out on their children’s dance recitals, school plays and baseball games. They oftentimes miss out on date nights or going out with friends because they simply are too exhausted once they get home from work to socialize. Americans not only work more hours than other developed countries, but we also take fewer vacations, work longer work days and retire at an older age. Although it’s most often with the best intentions, these individuals trade in time with their children and spouses to log in more hours for the security of a steady paycheck, but this security no longer exists.

While we’re doing all of this, we’re spending our time and energy working on someone else’s dream and contributing to their Income, Lifestyle, Wealth and Equity – not yours or our family’s. This realization doesn’t come easy and may be frustrating, but it’s time to set this frustration aside and to channel it into change.

Move from Employment to Empowerment®

Take a minute to ponder this question: What would happen if you started spending all of those countless hours at the office instead doing something for yourself? What would your life look like and how would you feel? If this vision of yourself is appealing, then it’s probably time for you to move from Employment to Empowerment®.

Shifting away from reactive employment toward a more proactive approach, such as franchise business ownership, can be a transformative experience for not just you, but your entire family. When you invest in a franchise, you’re never in your business alone and have continuous support. Investing in an already established brand with already functional systems can allow you to build the Income, Wealth, Equity and Lifestyle that you’ve always desired without many of the dreaded tradeoffs that corporate America forces workers to make.

Work-life balance doesn’t need to be a tradeoff. You have the power to take control of your career and define what career and personal happiness means to you. With franchise business ownership as a vehicle, any future is possible.

Contact a Coach at The Entrepreneur’s Source® Today!If you’re looking to take control of your future and finally achieve self-sufficiency without the undesirable tradeoffs, then contact an alternative career coach at The Entrepreneur’s Source franchise today. E-Source coaches can help guide you through a Discovery Process in which you can establish your unique Income, Wealth, Equity and Lifestyle Goals to help you uncover your Possibilities, Options and Dreams.

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Testimonials

Creating a self-employment opportunities is not easy, and it is quite scary, especially for some of us who have enjoyed cushioned jobs, good pay and great benefits. After I lost my job during company layoffs, I had attended business startup and franchise presentations led by a coach from The Entrepreneur Source. He provided a wealth of information and resources, but more important, real data and examples from his own experience as a franchise owner. (more…)

Goran Markinovic

“After twenty+ years working in corporate Human Resource roles across multiple geographies I woke one morning feeling that I was no longer revved up to continue in the same rat race that I had chased for the last twenty something years. I had to find something more rewarding, more challenging, more engaging and more provocative than the day to day grind. I wanted to own my business but I didn’t know where to start. (more…)

Jonathan Jenswold

I first met my coach when I was in transition after a long corporate career and considering the start of my own business. Throughout the process of considering a franchise he was always encouraging, thoughtful, thorough and patient. He does keep the process moving forward, has a good sense of urgency, and even keeps things light with a great sense of humor.

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For over 30 years The Entrepreneur’s Source has provided thousands of people with the answers and the opportunities they needed to improve their lives. Our discovery and education-based method of franchise and business coaching allows our clients to discover....Read More